Hollywood Park

News, Articles, Videos and other content about Hollywood Park

Churchill Downs Inc. is eliminating 18 positions at Hollywood Park, including four department heads, in anticipation of completing the Inglewood, Calif., racetrack's sale to Bay Meadows Land Co. The sale is scheduled to close Sept. 23.

Although competition from casinos and the desire to obtain alternative gaming at racetracks generate the most buzz about problems facing North American horse racing, Churchill Downs president and CEO Tom Meeker says there are other issues facing the industry that must be resolved.

Churchill Downs Inc. reported Tuesday that net earnings for the second quarter were $24.2 million or $1.80 per share diluted, compared to $27.7 million or $2.06 per share diluted for the same period in 2004.

Calling Churchill Downs' recent sale of Hollywood Park a "shot across the bow," California state Senator Dean Florez heard industry leaders plea for help in racing's struggle for survival in the Golden State.

Hollywood Park, saving its best for last, closed its 64-day spring/summer meet Sunday with total common pool wagering of $667,016,796, down less than one-half percent from the figure of $679,693,206 during a 65-day meet a ago. The daily average was $10.42 million, compared to $10.45 million in 2004.

Saying that California "has forsaken racing and its needs," the president of Churchill Downs Inc. announced July 6 that the company has sold historic Hollywood Park to Bay Meadows Land Company for $260 million.

Unbeaten River's Prayer, a 3 1/2-length winner of the June 4 Cinderella Stakes as the odds-on favorite, figures to draw heavy support again on Saturday when facing eight rival 2-year-old fillies in Hollywood Park's $100,000 Landaluce Stakes at six furlongs.

Officials maintained a taut no-comment stance on reports that Churchill Downs Inc. is close to a deal with the owner of Bay Meadows for the sale of Hollywood Park, but a spokesman for California's major trainers' organization expressed comfort in the news.

The owner of Bay Meadows race track in San Mateo has emerged as the leading candidate to acquire Hollywood Park with a bid of about $275 million, according to a report in the Los Angeles Business Journal.

Twenty-six of the nation's top college journalism students will participate in the third annual Los Angeles Times Sports Journalism Workshop, scheduled Thursday through Saturday at Times Mirror Square and Hollywood Park.

Churchill Downs Inc. posted revenue gains for the opening quarter of 2005 thanks to the addition of 61 racing dates at the newly acquired Fair Grounds, but higher corporate expenses resulted in a net loss of $13.9 million, the company reported May 10.

By Ray Paulick - Conglomerate ownership was designed to bring economies of scale to the racetrack segment of the industry. Statistical evidence, along with unconfirmed reports that Hollywood Park may be sold to developers, suggests it hasn't worked very well in Southern California.

Ed Allred, the owner of Los Alamitos Race Course, has reportedly backed out of a plan that could have brought Thoroughbred racing to his Quarter Horse facility in the event Hollywood Park were to be sold to development interests.

The California Horse Racing Board filed complaints Monday against Martin J. Wygod, the owner of Sweet Catomine, and a racehorse transport driver after determining the champion filly was falsely identified to the stable gate guard as a "pony" when she left Santa Anita at 3 a.m. April 4 for special medical treatment and again when she returned to the stable area the following night.

Tim Barden, Hollywood Park's management liaison since 2000, has been promoted to assistant general manager of the Los Angeles-area racetrack, general manager Eual Wyatt Jr. announced on behalf of Hollywood Park and parent company Churchill Downs Inc.

With the future of Hollywood Park in doubt, prominent Thoroughbred owner Mike Pegram and Los Alamitos Race Course owner Dr. Edward C. Allred unveiled a $40 million plan March 17 to expand and upgrade the Quarter Horse facility in order to fill an expected void in the Southern California market.

Churchill Downs Inc. officials discussed the company's financial picture, alternative gaming initiatives, and the industry's tote system during a March 17 teleconference but shed little light on their intentions for Hollywood Park, the Southern California racetrack that is the subject of sale rumors.

Earnings for Churchill Downs Inc. in 2004 and for the fourth quarter were negatively impacted by several one-time expenses, including supporting alternative gaming initiatives, a "non-cash impairment charge" at Ellis Park, and an unrealized loss related to a note, the company reported Wednesday.

The Thoroughbred Owners of California, faced with the possibility of losing a major racetrack partner, has been discussing its options for the future given ongoing rumors Hollywood Park may be sold and no longer offer horse racing.

Hollywood Park President Rick Baedeker blamed the explosion of the California Indian casino industry for the ongoing drop in attendance and handle during the Inglewood track's 2004 autumn meeting, which ended Dec. 20.

AmericaTab followed the success of its first Players' Pool on the Breeders' Cup Ultra Pick 6 with its second hit in a month. Bettors had one winning pick six ticket and 28 consolation tickets Nov. 28 at Hollywood Park.

Blackdoun and Special Ring failed to handle a yielding turf course in the Breeders' Cup Mile (gr. IT) at Lone Star Park on Oct. 30, finishing seventh and thirteenth, respectively, but the race took so little out of them they could both return later this month at Hollywood Park.

Nearly six months after it began the process of assigning dates for the 2005 Southern California racing season, the California Horse Racing Board approved a schedule Oct. 5 that's nearly identical to the proposal it started with.

Laffit Pincay Jr. will visit Hollywood Park to make the presentation of the inaugural Laffit Pincay Jr. Award, which will be presented annually on Hollywood Gold Cup Day to a person who has served the sport with integrity, extraordinary dedication, determination and distinction.

The $750,000 Hollywood Gold Cup (gr. I), from Hollywood Park will highlight Saturday's "Road to the World Thoroughbred Championships Powered by Dodge" on ESPN2, airing between 8-9 p.m. Also on tap is same day coverage of the $300,000 Swaps Breeders' Cup Stakes (gr. II) and a recap of the six-race Summit of Speed from Calder Race Course in Miami.

The stewards at Hollywood Park summarily suspended jockey Patrick Valenzuela Friday until they can conduct a formal hearing after the jockey failed to provide samples of his hair for drug testing as required under terms of his conditional licensing agreement with the California Horse Racing Board.

Churchill Downs Inc. has revised its earnings estimates for the second quarter and current fiscal year, primarily as a result of costs associated with the company's efforts to seek legalized alternative gaming in California and Florida and its proposed acquisition of Fair Grounds in Louisiana.

"NTRA Super Saturday," five shows of horse racing coverage airing on ABC and ESPN, will make its debut Saturday on ESPN with a two-hour telecast (4:00-6:00 p.m. ET) featuring five graded stakes from four different race tracks with reporters stationed at each venue.